Hanoi reveals real estate projects used as collateral

Hanoi's Department of Natural Resources and Environment has made public the names of 92 real estate projects that have been used as collateral.

According to Hanoi Land Registration Office, as of August 23, about 92 real estate projects had been used as collateral on loans by many investors including major names like Gamuda Land Vietnam, MB Land and Hai Phat.

Gamuda Land Vietnam applied for loans secured by their property and land-use rights for eight blocks of the new urban area project in Hoang Mai District. MB Land used the Golden Field project in Nam Tu Liem District and Hai Phat used the Hai Phat Plaza project and the land-use rights for 59 houses there.

Vinalines Land JSC, Thang Long Company and Vietnam Motors Company are also in the list. Soleil Investment and Hotel Services put up the property and land-use rights at their new project in Tay Ho District. Gelexemco used the land-use rights at new urban area projects on Le Trong Tan Street for loans.

Several projects which are being sold have also been used for mortgage loans.

Previously, HCM City authorities also released information on activities of several real estate investors that have applied for mortgage loans secured by their property and land-use rights.

Customers will face higher risks when buying apartments at these projects. When investors use the borrowed money for other investments, it may lead to stagnant projects and bad debts and the banks could sell the projects to recover the money.

Binh Thuan welcomes 4 million tourist arrivals in first nine months

The south central coastal province of Binh Thuan welcomed more than 4 million tourists in the first three quarters of 2018, up 11 percent from the same period last year.

The number included approximately half a million foreigners, mostly Russian and Chinese, up 13 percent year on year, according to the provincial Department of Culture, Sports and Tourism. The province earned about 9.5 trillion VND (404.5 million USD) in revenue from tourism, up 20 percent.

Most domestic visitors to Binh Thuan were from southern provinces that came for summer vacations and during public holidays, like Tet (Vietnamese traditional New Year) thanks to its sunny weather year-round.

The province has 468 accommodation facilities, offering more than 14,600 guest rooms, including 129 hotels rated 1 – 5 star. Some 390 tourism projects, worth more than 59 trillion VND (2.51 billion USD), are being operated in the province. These include 23 foreign projects with total investment of 13 trillion VND (553.5 million USD).

In recent years, Binh Thuan has made efforts to make tourism a key local industry. The province has added more tourism services in terms of transportation, shopping and underwater sports to serve the increasing demand of holidaymakers.

It has also ramped up activities to promote local tourist attractions and expand cooperation with other popular destinations in the south central coast and Mekong Delta.

Inspections have been intensified on tour operators and lodging providers to ensure they comply with related regulations while more lifeguards and fire fighters have been employed to ensure safety.

Binh Thuan is among Vietnam’s top tourist destinations thanks to its long and stunning beaches, friendly locals and safe environment. 

The province’s most popular beach is Mui Ne in the coastal city of Phan Thiet, which is set to become the main resort centre of Binh Thuan by 2025. 

This year, the province aims to receive about 5.75 million visitors, including 670,000 foreign travellers, and generate 12.85 trillion VND (547.1 million USD) in tourism revenue.

VN foods embrace health to compete: experts    

Focusing on healthy products and working closely with farmers can make Viet Nam’s food products competitive, experts have said.

Chau Ngoc Hanh of market research company Nielsen, speaking at a conference in HCM City on Wednesday, said a successful product line should combine innovativeness and things customers are familiar with.

Studies by Nielsen have show that 80 per cent of Vietnamese consumers worry about the effect of artificial ingredients in their food, 89 per cent are willing to pay high prices for healthy foods and 88 per cent read labels and information printed on food packaging carefully, she said.

“Vietnamese consumers are highly conscious of their health and very active in preserving it.”

Many demand greater nutrition and more authentic ingredients, and businesses have to earn customers’ trust by proving their products meet their needs and originated from a trusted source, and clear, detailed labelling that informs customers of product origins can help, she added.

Nguyen Duy Long of the Business Association of High Quality Vietnamese Products said that Southeast Asian countries such as Thailand are focusing on nutritious snacks and instant traditional meals that are quick and easy to make but retain their flavour, nutrition and authenticity like traditional food.

Viet Nam too should pursue such products, he added.

Le Thanh Truc, director of Ruou Phu Le Corporation which makes alcoholic drinks, said businesses should work closely with farmers, establish trust, always honour agreements with them, and buy their harvests fully.

Pham Xuan Da, head of the Ministry of Science and Technology’s office in the southern region, said his ministry is working with business groups to help farmers improve the quality of their produce and working on the “One Commune, One Product” model in which each district and commune would focus on one traditional Vietnamese product.

Pham Khanh Phong Lan, head of the HCM City Food Safety Management Board, said the board has been stepping up inspections of produce sold in traditional markets, and urged businesses to acquire certification and focus on building brands to improve their competitiveness. 

Officials target Middle East, Africa exports     

The Middle East and Africa are promising markets for Vietnamese exports, but exporters would face challenges there and have to adopt appropriately careful strategies, officials said at a conference in HCM City on Thursday.

Ngo Khai Hoan, deputy director of the Ministry of Industry and Trade’s Asia–Africa Market Department, said the two markets comprise 70 countries with a population of over 1.4 billion and have great demand especially for agricultural and seafood products.

The Middle East has high demand for mobile phones and accessories, computers, farm produce, seafood, garment and textile, footwear, and construction materials.

“The region has harsh natural conditions and so is unable to produce locally and imports 90 per cent of its agricultural and seafood products, offering a good opportunity for Vietnamese firms,” he said.

Value of Viet Nam’s trade with Middle Eastern and African countries has gone up sharply in recent years to US$18.5 billion last year, with Viet Nam’s exports accounting for $11.6 billion, he said.

“Viet Nam accounts for a very small proportion of the region’s imports.”

Bui Thi Thanh An, deputy director of the Viet Nam Trade Promotion Agency, said Africa and the Middle East’s imports were worth $480 billion and $807 billion in 2016 and are expected to reach $1.2 trillion and $1.5 trillion by 2020.

“Therefore, there is plenty of opportunity for Vietnamese firms to export to the markets.”

In addition, their location adjacent to three continents of Asia, Europe and Africa could serve as an entry point to the markets for Vietnamese goods, she said.

“Given the fact that Viet Nam’s traditional markets are gradually getting saturated, enhancing exports to new markets is the right path for Vietnamese businesses.”

However, Hoan said that companies exporting to the two markets have encountered challenges in terms of payment, information, finding partners and fierce competition from other countries.

They need to understand their regulations and Islamic cultural factors such as not consuming alcohol and requiring food and foodstuffs to have Halal certification, he said.

Though the markets do not yet have high food safety standards, they are increasingly adopting trade barriers and so Vietnamese firms should focus on improving food hygiene and safety, he added.

Speaking about her experience doing business with the Middle East and Africa, Chau Kim Yen, general director of Ben Tre Import-Export Company which has exported dried coconut meat to the two markets for decades, said the market has huge demand for Vietnamese farm produce.

But companies have to take a risk with payment because many importers in the two markets do not pay immediately or open letters of credit, she said.

There is also a lack of information about potential business partners and the Government should create a channel to disseminate information to businesses, she said.

Hoan said his ministry would step up trade promotion efforts, provide businesses with market information and negotiate with countries in the regions to promote exports of Vietnamese rice and seafood.

An suggested Vietnamese companies should participate in trade fairs there to meet potential customers. 

Vung Tau to invest in logistics, port

Ba Ria–Vung Tau Province plans to build a new logistics centre and container port with total investment of VND50 trillion (US$2.17 billion).

The Government Office recently released Vice President Trinh Dinh Dung’s statement regarding the construction of the Cai Mep Ha logistics centre and Cai Mep Ha container port in the province’s Phu My Commune.

The Cai Mep Ha logistics centre will have a total area of ​​1,200ha, with an estimated investment of VND40 trillion ($1.74 billion).

To ensure investment efficiency, the Geleximco Group’s Ha Noi Import and Export Company is responsible for exchanging information and working with the investor on the outcome of this joint-venture project, as well as the exploitation and use of ports.

The provincial People’s Committee will give instructions to the company on investment procedures, land lease, land allocation and construction investment in accordance with the law and requirements for economic growth of the province and southern key economic areas.

Cai Mep Ha container port will be developed on an area of ​​86.6ha with total investment of VND10 trillion.

The Vung Tau Shipbuilding and Oil Services Joint-Stock Company will be the investor.

Socially conscious businesses can boost development     

A new report revealed by the United Nation Development Programme (UNDP) and the National Economics University (NEU) on Thursday concluded the Government should support the development of inclusive business models designed to support the sustainable development and drive growth.

Inclusive businesses are scalable, financially stable ventures that actively promote well-being for communities. These business ventures often focus on creating jobs, protecting the environment and promoting healthy lifestyles.

According to the report, an inclusive business model involves balancing social and economic goals. As much as 70 per cent of inclusive businesses in Viet Nam turn a profit. Roughly 34 per cent of them focus mainly on social projects, while 59 per cent target economic goals as well.

NEU Professor Tran Tho Dat said the 2009 launch of the Centre for Social Innovation and Entrepreneurship (CSIE) helped promote businesses that aid sustainable development. The university’s commitment to the centre shows its determination in promoting the business models that have good impact on the society.

Dat believes inclusive business models are necessary for the 21st century’s society. It is a win-win model in which entrepreneurs generate profits for themselves while helping to better their communities and the environment.

UNDP Assistant Country Director for Viet Nam Catherine Phuong agreed, saying that replicating and supporting the models are important to Viet Nam.

Developing inclusive business models through innovation and technology can help improve productivity and simultaneously resolve the social and environmental challenges facing the country.

According to the report, most inclusive enterprises in Viet Nam have small revenues and workforces; however, they take the lead in promoting diversity and inclusiveness in business. All of the country’s inclusive enterprises employ women and three fourths employ disadvantaged people.

The report suggested providing inclusive enterprises with more access to capital as a financial solution to promote their development. It also recommended establishing an official network for inclusive businesses and improving their ties with other firms in the private sector.

Twelve tourism and service companies in the central province of Thừa Thiên-Huế were recognised for their good work at a ceremony held yesterday. 

Local Department of Tourism made a list of the companies according to five categories. They were hotels, travel agents, restaurants, trading and transportation.

La Residence Huế Hotel and Spa and Laguna Lăng Cô Resort were selected as the best hotels in town.

Vietravel, Saigontourist, and Vidotour were listed among the five best tour operators. DMZ, Thiên Hương and Phương Ty were the top choice for the service of restaurant, trading and transportation, respectively.

Nguyễn Dung, deputy chairman of the province’s People’s Committee, said the awards were for businesses who contributed towards the development of tourism in the year.

“They provided good service, lured the largest number of tourists to Huế, and often renovated their products,” he said.

This is the first year Huế held tourism awards as part of the department’s attempt to recognise contribution by the businesses as well as locals in promoting local tourism sector.

The department said the award announcement was made four months ago and there were 24 businesses registered to compete in five fields of service.

It also said the tourism award would be an annual event. Experts however expected the department would work to involve more businesses next year. Some believe 24 businesses registered was just a small 

slice of the total in the sector operating in the former imperial capital city of Huế.

Many private transport service providers are operating in the city but they did not register to be an enterprise, which made them not eligible for the awards. Nguyễn Văn Châu, one of those providers said that 

the company awarded the best transportation service was not really the one working in tourism.

“The popular service by that company was buses traveling between Huế and HCM City,” he said, adding that he expected the criteria for the award should be clearer next year.

Huế tourism sector has experienced a lot renovation thanks to the formation of local tourism department last year. This year, this department held two successful events of lotus festival and lion dance festival in an attempt to make Huế busy with festive events year round. 

Coffee tree areas in Tây Nguyên see higher yields

Most Robusta coffee areas replaced in recent years in the Tây Nguyên (Central Highlands) provinces have yielded more than four tonnes per ha, up 1.65 times compared to other coffee areas, according to the Western Highlands Agro-Forestry Scientific and Technical Institute.

In key coffee planting areas in Lâm Đồng and Đắk Lắk provinces, many coffee orchards with replaced trees have an average yield between 4-7 tonnes per ha.

Trần Văn Ngoạn replanted his coffee orchard of more than 22 years in Ea Tu Commune in Đắk Lắk Province’s Buôn Ma Thuột City in 2013.

In the 2016-17 coffee season, Ngoạn harvested 5 tonnes of coffee per ha.

In Ea Tu Commune, which has nearly 1,500ha of coffee, the largest area in Buôn Ma Thuột, about half of the coffee areas were planted before 1990, according to the commune’s Farmers’ Association.

To improve coffee yield, the Ea Tu Commune People’s Committee has supported farmers to replace old coffee orchards by providing soft loans and farming techniques since 2014.

Nguyễn Quang An, chairman of the commune’s Farmers’ Association, said the Ea Tu Commune People’s Committee will support farmers to replant old coffee orchards by 2025.

Coffee farmers in the Tây Nguyên provinces have chosen high yield and quality Robusta coffee varieties such as TR4, TR9, TR11, TR12, TR 13 and TRS1 to replant old coffee trees in recent years.

The varieties are resistant to coffee leaf rust, a fungus disease which can cause loss of leaves and ability to produce beans.

Coffee varieties like TR4 and TR5 have harvest time in January and February when the Central Highlands provinces are in the dry season, a favourable condition for harvesting and processing coffee.

Nguyễn Thị Nhung, who replanted her 1ha of old coffee trees in Kon Tum Province’s Đắk Hà District in 2016, said she would harvest the first crop of the replanted coffee this year and expected to have a high yield.

“My old coffee orchard was more than 20 years old and had low yield, so in years when there was poor harvest, my family did not have a profit,” she said.

The province’s Agriculture Extension Centre offered support for all coffee seedlings of TR4 varieties, and 50 per cent of the cost of fertiliser and pesticides, as well as farming techniques for replacing old coffee trees, she said.

“With quality coffee seedlings and the instructions of agricultural officials about farming techniques, my replanted coffee orchard is growing well,” she said.

Đắk Hà District is Kon Tum’s largest coffee planting area, but most coffee orchards are 20-30 years old and have low yield.

Since 2016, the province’s Agriculture Extension Centre has supported farmers in Đăk Hà to replant nearly 70 old coffee orchards with new coffee varieties like TR4 and TRS1, according to Đoàn Năng Rường, director of the centre.

The replanted coffee orchards are developing well and expect to have a good yield, he said.

In addition, farmers have also intercropped other fruit trees in coffee orchards to create shade for replanted or grafted coffee trees and improve income.

Tây Nguyên provinces, which account for the largest coffee planting area in the country, have also set up coffee nurseries to supply high quality seedlings for coffee farmers and companies.

Form 2014-20, the provinces plan to replant 90,000ha of old coffee trees and use grafts to upgrade 30,000 ha of old coffee trees.

The provinces have replanted and grafted more than 98,210ha so far, according to the Ministry of Agriculture and Rural Development’s Plant Cultivation Department. 

Showroom displaying Vietnamese, Lao products opened in Quang Binh

The Ministry of Industry and Trade and the Lao Ministry of Industry and Commerce jointly launched a showroom highlighting products from the Vietnamese and Lao border province in Dong Hoi city of the central province of Quang Binh on September 27. 

The showroom has 22 booths displaying products by 40 Vietnamese and Lao firms, including the wood, house appliances, electronics, rubber products, rice, and sugar of 11 Lao businesses.

Meanwhile, Vietnamese firms introduce cassava starch, peppercorn, saffron starch, sweet potato, dried potato, peanut oil, and a number of other farm produce.

The opening of the showroom is a chance for businesses of both sides to introduce and sell their products and seek opportunities to expand their market and increase sales.

The showroom is also expected to help increase import-export revenue between Vietnam and Laos.

Khammouane Bounthanome, owner of a Lao firm specialising in timber production and processing said that the company’s products are popular in Laos thanks to their diverse designs and high quality.

The company hopes to sell its products to other countries, especially Vietnam, said Bounthanome.

Covering nearly 3ha at a construction cost of over 2 billion VND, a safe vegetable farm belonging to the An Nong company in Quang Binh has become a reliable source of vegetable supply in Quang Binh.

Le Thi Thanh Thuy, Director of An Nong, said that the firm is targeting other Vietnamese localities as well as the Lao market.

Enterprises of the central province of Quang Tri also introduced various products such as herbal products, peanut oil and butter, and some specialty products of the province.

Thua Thien-Hue honours outstanding tourism businesses

Outstanding tourism businesses were honoured during a ceremony held on September 27 by the People’s Committee of the central province of Thua Thien-Hue.

Accordingly, the awards for leading hotel operators were presented to Laguna Vietnam, and Kinh Thanh Hotel.

The top seven travel agents honoured this year include Vietnam Travel and Marketing Transports (Vietravel), Vietnamtourism Hanoi JSC, Apex Viet Nam Travel, Viet Media Travel, Saigontourist Travel Service’s Da Nang chapter, Vidotour Indochina Travel, and HG Hue JSC.

The top catering service provider award was handed over to DMZ Tourist, while Thien Huong received the title of top shopping service. The transport services award was presented to Phuong Ty Co.

Vice Chairman of the provincial People’s Committee Nguyen Dung, who is also head of the organising board, said the Thua Thien-Hue tourism awards aim to improve the quality of tourism services in the province.

Thua Thien-Hue aims to attract 4-4.2 million visitors this year, which would be a rise of 10-12 percent year-on-year, with about 40-45 percent being foreigners. It hopes to record a 15 percent increase in tourism revenue to 4.2-4.3 trillion VND (184-189 million USD).

From the outset of the year, the province has organised a string of activities including cultural festivities, art performances, and cuisine festivals to lure more tourists to the locality.

It has also been raising the region’s attractiveness with public decorations, such as dressing the the Ky Dai (Flag Tower) with 1,000 LED lights and firing cannons from the tower. 

The province recently approved a project worth 27 billion VND (1.15 million USD) to light up Dai Noi (Imperial Citadel) with LED bulbs to create another visual highlight for the city. 

Thua Thien-Hue is working to improve its tourism portal in Vietnamese and English, linking with the portals of the Vietnam National Tourism Administration, as well as other localities and international cities to promote its tourism.

In the first nine months of 2018, Thua Thien-Hue welcomed nearly 3.5 million visitors, including 1.42 foreigners. Tourism revenue is so-far estimated at 3.38 trillion VND (144.67 million USD), up about 30.5 percent year-on-year. 

Higher prices to slow down LPG consumption growth

The growth of liquefied petroleum gas (LPG) consumption is forecast to slow down as LPG prices have tended to increase in 2018, according to the Vietnam Gas Association (VGA).

The VGA said on September 27 that LPG consumption this year could rise by 5-6 percent from 2017 to 2.05-2.07 million tonnes.

The domestic LPG is currently provided by the PetroVietnam Gas JSC gas processing plant in the southernmost province of Ca Mau, as well as the Dung Quat oil refinery of the Binh Son Refining and Petrochemical JSC in the central province of Quang Ngai.

The two firms produce 828,000 tonnes of LPG, meeting around 45 percent of the market demand. The remaining 55 percent is imported from other countries.

Nguyen Hai Long, head of the VGA’s southern branch, said that illegal gas extraction, changing LPG containers, and counterfeiting labels are still rampant in the market.

The fight against such fraudulent activities has been enhanced in 2018, focusing on illegal gas extraction facilities, especially in Binh Duong, Dong Nai, and Long An provinces.

He added that the VGA has coordinated with authorised agencies to boost communications to raise public awareness of gas safety. Its southern branch will press on with fighting trade frauds regarding LPG in the time ahead. 

Social impact firms critical to sustainable development: study

Social impact businesses (SIBs) are a key factor in helping to achieve sustainable development goals, and as such they need more support to develop, according to a study report released in Hanoi on September 27.

The report, unveiled by the United Nations Development Programme (UNDP) and the National Economics University (NEU), said that SIBs can balance social and economic targets will create a sustainable business model. 

About 59 percent of SIBs in Vietnam choose to balance social and economic targets, with 34 percent focusing more on social targets. Meanwhile, 70 percent of these companies are operating profitably.

Job provision, ensuring a healthy and happy life for all people, and environmental protection are the top three fields that SIBs work to promote, the report said.

It added SIBs in Vietnam are usually small in scale and revenue. Recently, all have been seen to promote gender equality by employing women and three-fourths have accepted people with disabilities.

To promote the development of SIBs, the report recommends the country increase their access to capital and innovative financing methods, boost their connectivity with other private enterprises, and set up a network for the SIB sector.

Rector of the NEU Prof. Tran Tho Dat said the promotion of social entrepreneurship began in 2009 with the establishment of the NEU’s Centre for Social Innovation and Entrepreneurship, exemplifying his university’s resolve and commitment in this field.

He expressed his belief that business model aimed at profiting society and sustainable development is a 21st century trend, with entrepreneurs simultaneously generating economic values for themselves, providing positive impacts on society, and reducing environmental impacts.

Catherine Phuong, UNDP Assistant Country Director in Vietnam, said that grasping this business model is critically important to Vietnam. Developing a more sustainable and inclusive approach to economic growth through innovation and technology, improving labour productivity, and solving social and environmental challenges will help accelerate the realisation of sustainable development goals.

Mekong Delta localities pitch for Australian investment

A conference on promoting investment between the Mekong Delta province of Dong Thap and the Australian Business Group in Vietnam took place in Ho Chi Minh City on September 27. 

The event aimed to call for investment in developing value chains of agriculture, aquatic processing, tourism, and energy in Dong Thap as well as the neighbouring localities of Long An, Tien Giang, Ben Tre, Can Tho, and An Giang. 

Speaking at the event, Chairman of the provincial People’s Committee Nguyen Van Duong said that the Mekong Delta is a trade gateway between Vietnam and ASEAN and Mekong Sub-regional countries. 

As one of the few national economic hubs that also has a natural green landscape, the region supplies up to 90 percent of rice for export, 70 percent of fruit output, and just short of 60 percent of aquatic products for export. However, its potential for farm produce processing and tourism is yet to be fully tapped. 

Hailing Australia for its modern agriculture and food processing, Duong said that regional localities call on Australian businesses to come to work together towards products of high added-value, contributing to the modernisation of agriculture in the region. 

Chairman of the Australian Chamber of Commerce in Vietnam Matthew Lourey held that joint work between Australian firms and Mekong Delta localities will improve the value of key local products and open up more business opportunities. 

Chairman of the Board of Directors for Mavin Group David John Whitehead, lauded Dong Thap as one of the top localities in the nation boasting high competitiveness, adding that this was one of the key factors in their decision to build an animal feed plant worth 675 billion VND (30.2 billion USD) there and expand investment in other projects. 

He pointed out that infrastructure and logistics services in the region remain poor. As a major farm produce and aquatic products manufacturer and exporter, the region still lacks a deepwater port. Meanwhile many bridges are weak and in need of upgrade, making it hard for goods transportation. 

At the event, the provincial People’s Committee signed a memorandum of understanding (MoU) with Mavin Group on building a food processing plant up to European standards, and another MoU with Sun Rice Group on developing rice value chain via linkages with local material zones. The two projects are already worth nearly 1 trillion VND (43.4 million USD). 

Representatives from the Australian Business Group in Vietnam also signed several memoranda of understanding on promoting investment with Long An, Ben Tre, Dong Thap, and Tien Giang.

Dong Thap attracts Australia investors     

Dong Thap Province in the Mekong Delta region has become a magnet for foreign investment, especially those from Australia, speakers said on September 27 at an investment conference held in HCM City.

Nearly 100 investors and financial institutions from Australia explored business opportunities at the meeting organised by the Australian Chamber of Commerce in Viet Nam (Auscham in Viet Nam) and Dong Thap Province.

Shaun Fitzgerald, Australian counselor of politics, economy and trade in HCM City, said: “The economic development of the Mekong Delta region is inextricably linked with Viet Nam’s prosperity, as the region is a critical driver of future economic growth.”

Australia has contributed to major infrastructure projects in the region, particularly in Dong Thap, including the Cao Lanh Bridge, which will connect five million people with markets across Viet Nam, Thailand and Cambodia.

The My Thuan Bridge also received support from Australia as part of the country’s commitment to the economic development of the region.

The bridges, along with other significant infrastructure, will enable companies based in the Delta to expand operations and seek trading opportunities beyond the region, and fuel Viet Nam’s economic growth, according to Fitzgerald.

David John Whitehead, director of Auscham in Ha Noi and chairman of the Marvin Group - an agri-business operating in Viet Nam since 2004, said Dong Thap has great investment potential, especially in agriculture.

“We normally consider two major issues before we make a decision to invest: ease of administrative procedures and investment incentives,” he told Viet Nam News.

“I think the Mekong Delta region and Dong Thap in particular should continue to improve transport and logistics services,” he said, adding that many bridges have a low load capacity, and there are no deepwater ports.

“To attract more foreign investors with large projects, the province should continue issuing tax and investment incentives, especially for agricultural exports, the Delta’s strength,” he said.

Nguyen Van Duong, chairman of the provincial People’s Committee, said that Dong Thap was calling for investment in hi-tech agriculture, the processing industry, urban development, industrial park infrastructure and manufacturing, in addition to tourism, trade and services.

The region has great potential in agricultural products and ecotourism, as well as renewable energy such as wind power, Duong said, adding that with its strategic location, the Mekong Delta is the gateway for trade between Viet Nam and ASEAN members, and the Mekong sub-region.

The delta’s Provincial Competitiveness Index (PCI) ranks among the top six areas in the country, while Dong Thap in particular has been in the top 10 in the National Competitiveness Index for 10 consecutive years, according to Duong.

“Dong Thap will continue to create the most favourable conditions for investors and will improve infrastructure construction, administrative reform and personnel resources,” he said.

At the conference, three Memorandum of Understanding (MoUs) on investment cooperation were signed between the province and investors, including an MoU signed between the province and Marvin Group to build a food-processing factory with total investment of US$20 million.

Dong Thap in Mekong Delta is about 160km southwest of HCM City. With its mild climate, widespread irrigation systems and abundant fresh water and fertile sediment, the province has abundant agricultural resources as well as many precious species of fauna and flora.

With its historical sites, old architecture and traditional craft villages, it also has great potential to become a popular tourist destination. 

Vietnamese and Lao firms display products to get more business chances     

A display area for the products of the provinces along the Viet Nam - Laos border was opened on Thursday in Dong Hoi City, Quang Binh Province by Viet Nam’s Ministry of Industry and Trade and the Ministry of Industry and Trade of Laos.

There are 22 booths from 40 enterprises of Viet Nam and Laos, including 11 booths of Lao enterprises with wooden products, home appliances, electronics, rubber products, rice and sugar.

Meanwhile, the 11 Vietnamese booths exhibit cassava starch, pepper, curcumin powder, sweet potato, peanut oil, citronella oil, coffee, medicinal herbs, clean vegetables and Phuc Trach pomelo.

The display is part of the 11th Viet Nam - Laos border trade and development co-operation meeting, held in Quang Binh from September 26-27.

At the opening ceremony of the display area, Tran Thanh Hai, deputy director of Import-Export Department under the Ministry of Industry and Trade, said displaying at this area would create opportunities to advertise products of the two countries’ enterprises and connect their business with partners.

Hai said local enterprises need to step up their trade promotion activities and introduce their products in Laos. With support from the State and the Ministry of Industry and Trade, the enterprises should strive to grasp trade policies and take opportunities for promoting their goods.

This event is expected to create opportunities for local enterprises in introducing their products to not only Laos and also to other countries in the region, said Nguyen Thi Kim Khuyen, director of Quang Tri Province-based My Khuyen Food Co Ltd, one of the local enterprises displaying products at the area.

HDBank loan aids consumer goods firms     

Housing Development Bank (HDBank) has unveiled a preferential loan package for consumer goods producers and distributors.

The lender will support enterprises that supply foods and other essential items to supermarkets and convenience stores.

All suppliers to the domestic market and exporters, and local and international companies owning supermarket chains in Viet Nam or elsewhere are eligible to borrow.

They will be offered overdrafts and short-term loans to supplement their working capital, and long- and medium-term loans to enable them to upgrade equipment, machinery, warehouses and vehicles.

The loans will be at preferential interest rates and with convenient tenures and come with a free electronic wallet worth VND5 million (US$214).

HDBank also has many other promotions such as an instant gift of VND5 million for any companies opening an account and loans at 7 per cent interest for motorbike showrooms. 

Sao Mai Group eyes more stake in IDI     

Multi-sector Sao Mai Group Corporation (Sao Mai Group) has offered to buy 27 million shares of the International Development and Investment Corporation (IDI) to increase its power in the later one.

Sao Mai Group aims to increase its ownership in IDI to 120 million shares, equal to 66 per cent of charter capital, from the current 93 million shares (51.14 per cent).

The deal will be carried out through both put-through and order-matching transactions on the stock market between September 28 and October 26.

Sao Mai Group is listing nearly 242 million shares on the HCM Stock Exchange (HoSE) with code ASM, gaining 0.8 per cent to end Thursday at VND13,150 (US$0.58) apiece.

IDI is listing more than 181.6 million shares on the HoSE with ticker IDI. The firm’s shares rose 1.8 per cent to close Thursday at VND13,800 per share.

At that price level, Sao Mai Group will have to pay VND372.6 billion ($16.56 million) for the deal.

IDI in early September announced it would make a 9 per cent dividend payout, worth VND163.4 billion, for its 2017 results in cash or bonus shares. Dividend payments will be made by the end of this month.

The company also planned to make an advance 11 per cent dividend payment, worth nearly VND199.8 billion, in cash or bonus shares for its performance in 2018. Payments will also be made before October.

In the first six months of 2018, IDI recorded VND2.83 trillion in net income and VND316.5 billion in net profit, accounting for 41 per cent and 55 per cent of its full-year targets.

In the second quarter, IDI recorded VND1.58 trillion in net revenue with tra fish exports accounting for 38 per cent of the firm’s total exports.

According to the company, the price of tra fish kept increasing in the second quarter but the firm managed to buy at lower price levels, so its marginal profit was higher.

Sao Mai Group is now IDI’s biggest shareholder. After the first half of the year, Sao Mai Group posted VND2.7 trillion in net income and VND857 billion in post-tax profit, triple and 18-fold the figures recorded in the same period of 2017. The figures were equal to 28 per cent and 95 per cent of the firm’s 2018 targets. 

Property, architecture expo in HCM City     

A wide range of products and services related to real estate, architecture and interior and exterior decoration will be showcased at the Vietbuild International Exhibition to be held in HCM City from September 26 to 30.

The second Vietbuild to be held in the city this year will have more than 2,500 booths, slightly more than last year, set up by over 900 local and foreign companies.

According to the organisers, 288 of the exhibitors are local firms, 126 are joint ventures and the rest are foreign from 27 countries and territories, including the US, Russia, France, Australia, Italy, Denmark, Korea, Singapore, China and Thailand.

They will showcase property projects, electrical equipment, doors and accessories, internal and external decorative items, building materials, solar energy systems, measuring equipment used in the construction sector, and others.

Speaking at a press conference to introduce the exhibition in HCM City last week, Nguyen Tran Nam, a former deputy construction minister and head of the exhibition organising board, said exhibitors have done research to come up with products with new designs and environment-friendly and higher-quality products to meet the increasing demand for housing construction and interior and exterior decoration.

The expo would be a good forum for local and international businesses to meet and explore business opportunities, he said.

Conferences and business meetings will be held on its sidelines.

The expo will be held at the Saigon Exhibition and Convention Centre in District 7.